If you have a young business – or if your business is ready for some major changes in branding or  products offered – then you might be struggling to figure out where your company fits in to the market, and how it will stand out from its competitors.

Having clear branding and ensuring that your business provides unique value to its customers is crucial to guaranteeing the success of your brand, and the first step to achieving this is through effective market positioning.

What is market positioning?

Market positioning is the act of defining your brand’s position in the market, including what unique value the brand provides and how the company is different from its competitors – for example, as an exclusive, luxury brand, as the most affordable, or the most cutting edge. Successful market positioning allows companies to cement a perception of their brand in the minds of consumers, resulting in a brand identity that sticks with – and attracts – the target customer.

Why is market positioning so important?

There are a number of reasons why market positioning is vital to businesses: First, by occupying a unique position in the market – and communicating this position successfully to your target audience – your brand will be the first port of call for customers who want to benefit from the unique value your brand or product provides, allowing your brand to stand ahead of its competitors.

Moreover, by occupying this unique market position, your brand is more likely to stick in the minds of consumers, improving brand awareness and memorability. Along the same vein, strong brand awareness often elicits feelings of trust in the consumer, so they’ll be more likely to make a purchase from your business.

Successful market positioning can make it easier for your marketing and product design teams to correlate their efforts to produce products and promotional campaigns that are consistent with your brand, its values and the market position it occupies. Market positioning can even lead to more successful hires, as prospective employees may be attracted by the unique value your company offers.‍

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How can you execute market positioning successfully?‍

Identify opportunities – or gaps – in the market that you want your brand to occupy, who your target audience is, what unique value or Unique Selling Point your brand offers and how this sets you apart from your competitors.  You may have multiple options to test with your market, to determine what resonates the most, and what creates the biggest opportunity for your business.

Then, you can create a positioning statement, which concisely summarizes the conclusion you’ve come to about your position within the market.  Translating that positioning statement to your products or services, advertising, messaging, creative, and to your team in a tangible way is the most difficult part of the positioning process.  Having a position isn't enough; you must prove it is true daily by how your business operations and the problems it solves.

If you want to clearly define your company’s brand and enhance your brand’s perception to your customers – all while ensuring your whole company is aligned towards the same clear goal – then achieving clear marketing positioning is vital. Contact us today for a free consultation to see if we can help.